ICAZ pass rate declined by 5%

Over ninety candidates are on the verge of qualifying to become members of the Institute of Chartered Accountants of Zimbabwe(ICAZ) after passing the final qualifying examination which they wrote in November last year.

With 129 students having sat the Professional Practice Examination, this represents a pass rate of 75% compared to the 80% achieved last year. Despite the pass rate declining by 5% when compared to the same period last year, ICAZ Examination Board Chairman, Bryan Thorn expressed his satisfaction with the pass rate. “This year’s results, although not as good as 2010 are still pleasing,” he said.

Mr Thorn also reported that twelve out of fourteen candidates passed the Financial Management Examination. Of the seven pupils who sat for the similar examination in 2010 five passed.

The students study for their examinations alongside the practical training, while serving articles of clerkship with an accounting firm, or a company accredited as a training office by ICAZ.

Those who begin training without having obtaining a relevant accounting degree, study by correspondence for a B. Compt degree from the University of South Africa (Unisa) before sitting for the Zimbabwe Certificate of Theory in Accounting.

Those who wish to train as auditors train inside public practice (TIPP) with an auditing firm, while those who do not wish to be auditors can train outside public practice (TOPP) with an accredited training company. The students all write the same ZCTA and Qualifying examination Part One papers.

After passing Part One, the TIPP students specialize in auditing and sit for the Public Practice Examination while the TOPP students specialize in Financial Management and sit for the Qualifying Examination Part Two.

The Duff Award of merit for the best overall student will be awarded to Luxmore Gorejena after taking into account Part I results.

The District Society Prize for the best TIPP student in this year’s PPE will be awarded to Luxmore Gorejena.

The Econet Wireless Award for the best TOPP student will be awarded to Clemence Muchingami.

Presentation of certificates ceremony will be held on the 14th of March at the Celebration Centre at 1700hrs

The Institute of Chartered Accountants of Zimbabwe is one of the major accounting bodies in Africa and is a full member of International Federation of Accountants and Central (IFAC), Eastern Central and Southern African Federation of Accountants (ECSAFA) and the Pan African Federation of Accountants (PAFA).

ICAZ aims to enhance the International standing and recognition of the qualification Chartered Accountant (Zimbabwe), for the benefit of its members, to support them in providing quality services in the public interest

The institute also seeks to be the pre-eminent professional body in the development and promotion of accountancy, assurance and advisory services, business and good governance practices.

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